(WJW) - Hooters has filed for Chapter 11 bankruptcy, the restaurant chain confirmed on Monday evening. Still, company officials want fans to know that "Hooters is here to stay." Hooters of America, LLC said in a press release that the business entered into a restructuring support agreement, or RS A, "to effectuate a sale transaction that will facilitate the continued operation of the business under new ownership." The company plans to sell dozens of restaurants to two franchise groups that currently own and operate more than 30% of the domestic franchised Hooters locations. Hooters filed for bankruptcy in the United States Bankruptcy Court for the Northern District of Texas. Company officials said they hope to exit Chapter 11 in about 90 to 120 days. The Florida-based restaurant chain emphasized that it plans to stick around. Company officials said Hooters locations will remain open and operate normally during the bankrupcty. “Our renowned Hooters restaurants are here to stay. Today’s announcement marks an important milestone in our efforts to reinforce Hooters’ financial foundation and continue delivering the guest-obsessed hospitality experience and delicious food our customers and communities have come to expect,” said Hooters of America CEO Sal Melilli in the release. "I’ve seen firsthand the incredible value and opportunities our brand brings to life, and I look forward to continuing that momentum well into the future. I’m incredibly grateful to our valued customers, partners and employees for their continued support." New Mexican restaurant offering authentic tacos is opening in Perkins Rowe The filing comes just over a month after news of Hooters considering bankruptcy started to surface, as reported by Fox News Business, citing debt concerns and fewer customers in recent years. According to company officials, the restaurant chain "has been known for its World Famous Chicken Wings, fun atmosphere and legendary service from the iconic Hooters Girls" for more than 40 years. Learn more about the bankruptcy filing here. Latest News Cast for Beatles biopics revealed: Paul Mescal, Barry Keoghan, Joseph Quinn and Harris Dickinson to star Live updates: GOP battle over proxy voting heats up; all eyes on special elections Senate Democrat will block Trump’s VA nominees to protest cuts Hooters restaurant chain files for bankruptcy protection Hooters files for bankruptcy; officials say restaurants 'here to stay' ...read more read less